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As the company searches for a new CEO, Peloton Chairperson Karen Boone and Peloton Director Chris Bruzzo will serve as interim co-CEOs. How much you'd have if you invested $1,000 in PelotonPeloton has come a long way from when the company was founded in 2012. If you had invested $1,000 in Peloton in 2019, 2021 or 2023, here's how much it would be worth now. CNBC's calculations are based on the company's May 2 closing share price of $3.13. And if you had invested $1,000 in Peloton in 2019 when it first went public, your investment would have decreased by about 89% and be worth about $108 as of May 2.
Persons: it's, Barry McCarthy, John Foley, He'll, Karen Boone, Chris Bruzzo Organizations: Interactive Locations: New York
One of Brown University’s major donors, the billionaire real estate mogul Barry Sternlicht, on Friday sharply criticized the school’s agreement to hold a board vote on cutting investments tied to Israel, calling it “unconscionable” and saying he had “paused” donations to the school. Brown is among a small number of universities that have agreed to discuss their investments in companies that do business in Israel, in order to persuade student protesters to dismantle encampments. It’s not education, it’s propaganda,” he wrote. Mr. Sternlicht, 63, said that no deal with protesters could be fruitful because the two sides did not agree on “facts and moral clarity,” as well as the scale of Israel’s invasion of Gaza after Hamas’s Oct. 7 attack in which about 1,200 were killed and another 250 were taken hostage. Israel’s subsequent intense bombardment of the tightly-packed area has left more than 34,000 dead and drawn international condemnation.
Persons: Brown, Barry Sternlicht, , , Sternlicht, Christina H, Paxson, Israel’s Organizations: New York Times, Israel Locations: Israel, Gaza
London CNN —The beloved British sitcom “Gavin and Stacey” will be returning for its final episode this Christmas, James Corden, who co-writes and stars in the show, announced on Friday. We have finished writing the last ever episode of Gavin and Stacey,” Corden posted to Instagram, signing the announcement with his co-writer Ruth Jones. Love Ruth and James.”Joanna Page, who plays the show’s titular Stacey Shipman, also posted the news to Instagram, writing “O my god it’s happening!!! !”James Corden announced the final "Gavin and Stacey" episode by posting a photo of himself and Ruth Jones holding the script for the finale. The show’s 2024 finale will air on BBC One and iPlayer on Christmas Day, the BBC confirmed.
Persons: “ Gavin, Stacey ”, James Corden, , Gavin, Stacey, ” Corden, Ruth Jones, Love Ruth, James, ” Joanna Page, Stacey Shipman, Stacey … Can’t, Corden, Jones, Smithy, Nessa Organizations: London CNN, British, BBC Locations: Essex, Barry
Maddy Lane, a Gen Z TikToker, shared what it's like in a recent video, showing the detritus of her latest haul all over her bed. A survey of 1,000 people from January by the digital analytics platform Quantum Metric found that 64% of Gen Z respondents were buying more than they did last year. Contradictory to Gen Z beliefsCheap clothing hauls do not sit well with the much-discussed Gen Z passion for environmentalism. AdvertisementGaby Mendes, a Zoomer and founder of Talk Twenties, a media and events company for Gen Z, told BI she tries to avoid fast fashion but has her lapses. Gen Z was dubbed the "Depop generation" by Vogue Business, and makes up 90% of the app's user base.
Persons: , Maddy Lane, Lane, Zers, ThredUp, Gen, TikTok, pang, Melanie Parncutt, Parncutt, Gaby Mendes, Gen Z, JADE GAO, Siena Barry, Taylor, There's Organizations: Service, Business, Bryant University, Otter Public Relations, Vogue Business, Barry Locations: cardigan
In a letter to staff, McCarthy said the company needed to implement layoffs because it wouldn't be able to generate sustainable free cash flow with its current cost structure. "Achieving positive [free cash flow] makes Peloton a more attractive borrower, which is important as the company turns its attention to the necessary task of successfully refinancing its debt," McCarthy said in the memo. McCarthy had also expected Peloton to reach positive free cash flow by June — a goal the company said it reached early during its third quarter. In a letter to shareholders, Peloton said it generated $8.6 million in free cash flow but it's unclear how sustainable that number is. The company didn't provide specific guidance on what investors can expect with free cash flow in the quarters ahead but said it does expect to "deliver modest positive free cash flow" in its current quarter.
Persons: Barry McCarthy, McCarthy, Karen Boone, Chris Bruzzo, Jay Hoag, It's, John Foley, hasn't, Goldman Sachs, Boone, Barry, Bruzzo, , hadn't, Creditsafe, it's, Foley Organizations: Interactive, Allen & Company Sun Valley Conference, Spotify, Netflix, JPMorgan, LSEG, outperformance, CNBC Locations: Sun Valley , Idaho, lockstep
The New York state comptroller sent a letter to Best Buy last week questioning whether the company changed its commitment to inclusivity and supporting LGBTQ groups. The comptroller's office manages the state's $207 billion public pension fund, which has invested in Best Buy. He also denied that the NCPPR pressured Best Buy to stop supporting LGBTQ groups in general. "This contentious and vast disagreement between radical gender theory activists and the general public has nothing to do with Best Buy selling electronics." Peck did not ask Best Buy to stop its donations to the HRC, saying in the email, "We understand that it's unrealistic for Best Buy to leave HRC in the near future because of their political clout."
Persons: Thomas DiNapoli, Corie, Barry, J, Patrick Doyle, DiNapoli, Scott Shepard, Shepard, Trevor, Carly Charlson, Charlson, Eric Bloem, Bloem, Ethan Peck, Peck, Marina Rizzo, hadn't, Rizzo Organizations: NBC News, Securities, Exchange Commission, National Center for Public Policy Research, Best, NBC, NCPPR's Free Enterprise, SAGE, GLAAD, Human Rights, SEC, NCPPR's Free Enterprise Institute, HRC, PRIDE Locations: York, States
New York CNN —Peloton CEO Barry McCarthy is leaving his role, and the company is cutting about 15% of its workforce as numerous attempts to regain its pandemic-era glory have failed. McCarthy, who was named CEO just two years ago, will become a strategic advisor through the end of the year, Peloton said in a press release. In his place, Peloton has started a “comprehensive search process” for his replacement and two executives will become interim co-CEOs in the meantime. Peloton also announced that it’s eliminating 400 jobs, which will help the company cut $200 million in costs. McCarthy, a former chief financial officer of Spotify and Netflix, tried to engineer a number of ideas to turn around Peloton.
Persons: Barry McCarthy, McCarthy, Lululemon Organizations: New, New York CNN, Spotify, Netflix, Consumer Product Safety, Sporting Goods Locations: New York
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrontier Airlines CEO Barry Biffle on Q1 results, state of consumer and BizFare launchCNBC’s Phil LeBeau and Frontier Airlines CEO Barry Biffle joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the consumer, business travel demand, growth outlook, and more.
Persons: Barry Biffle, Phil LeBeau Organizations: Frontier, Frontier Airlines
Peloton CEO Barry McCarthy is stepping down, the fitness company announced on Thursday. After reaching new highs during the pandemic, the company has recalled products, laid off workers, and seen sales and its stock tank. McCarthy replaced John Foley as Peloton CEO and president in February 2022. But since then, the company has recalled products, laid off thousands of workers, and seen sales and its stock tank. It posted a net loss for the quarter of $167.3 million, down from $275.9 million for the same quarter in 2023.
Persons: Barry McCarthy, , McCarthy, John Foley, Karen Boone, Chris Bruzzo Organizations: Service Locations: Ohio
Carvana — The used car seller spiked 36% after posting first-quarter revenue Wednesday of $3.06 billion, above analysts' consensus estimate of $2.67 billion. Cigna — The insurer moved 1% higher after first-quarter adjusted earnings of $6.47 per share topped the $6.22 expected from analysts polled by LSEG. Zillow estimated second-quarter revenue of $525 million to $540 million, versus $559.2 million expected from analysts polled by FactSet. Freshworks — The software development company plunged 27% after projecting second-quarter revenue of $168 million to $170 million and full-year revenue of $695 million to $705 million. Analysts polled by FactSet expected $172.1 million for the quarter and $708.3 million for the year.
Persons: Barry McCarthy, Carvana, Morgan Stanley, Cardinal, Nio, Zillow, LSEG, FactSet, Qorvo, , Jesse Pound, Lisa Han, Pia Singh, Tanaya Macheel Organizations: Qualcomm, LSEG, LSEG . Revenue, Health, FactSet, eBay Locations: Nio —, LSEG
Peloton said on Thursday that its chief executive, Barry McCarthy, was stepping down and it would lay off more workers, as it continued to struggle in the fitness market. The connected-fitness company announced disappointing quarterly earnings on Thursday, with revenue down 4 percent from last year. The company, which has not turned a profit since December 2020, is also looking to refinance more than $1 billion in debt. Peloton had a spectacular rise at the start of the pandemic, when gyms and fitness centers closed and consumers were hungry for at-home workout options. But after gyms reopened, Peloton began to face stiffer competition from companies like Bowflex and Lululemon.
Persons: Barry McCarthy, Kevin Dietsch Organizations: Spotify, Netflix
Check out the companies making headlines in midday trading: Apple — Shares ticked up roughly 2% ahead of the iPhone maker's second-quarter results due after the closing bell. Wayfair said it lost 32 cents per share on an adjusted basis, narrower than the estimate of a loss of 44 cents from analysts polled by LSEG. Etsy reported adjusted earnings of 48 cents per share, while analysts polled by LSEG called for 49 cents a share. EBay said it expects revenue in the range of $2.49 billion to $2.54 billion, while analysts polled by LSEG forecast $2.56 billion. Qorvo now expects earnings of 60 cents to 80 cents per share, while analysts polled by FactSet expected $1.27.
Persons: Barry McCarthy, Wayfair, Cigna, DoorDash, Etsy, LSEG, Zillow, Qorvo, FactSet, — CNBC's Pia Singh, Tanaya Macheel, Samantha Subin, Hakyung Kim, Lisa Kailai Han, Alex Harring Organizations: Apple, , Qualcomm, LSEG . Revenue, Moderna, LSEG, eBay —, EBay, Revenue
Demonstrators supporting Palestinians in Gaza barricade themselves inside Hamilton Hall at Columbia University in New York City on April 30. On Tuesday, White House officials sharply condemned the takeover of a building at Columbia University, voicing a rebuke of tactics they said went too far. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.
Persons: Joe Biden, Biden, , Mike Johnson, , Karine Jean, Pierre, hadn’t, Alex Kent, Jean, ” Biden, , “ Biden, nobody’s, Donald Trump, Lauren Hitt, haven’t, Etienne Laurent, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Spencer Platt, Charly Triballeau, Kena Betancur, Seyma, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk, Morehouse, , Karim Safieddine, ” Safieddine, Todd Richmond, Dahlia Saba, Trump, ” Saba, ” Barry Burden, ” Burden, that’s Organizations: CNN, Hamilton Hall, Columbia University, Getty, US, White, Heritage Month, Republican, Fox News, National Guard, Kent State University, University of California, UCLA, Getty Images Police, Police, Hamilton, Reuters Police, Columbia, Reuters, The City College of New, Protesters, Getty Images, Columbia Students, Justice, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, George Washington University, AP, Sunday, New York University, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, USA, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, Democratic, US Military Academy, West, Morehouse College, Biden, Syracuse University, University of Pittsburgh, United Steel, Trump, University of Wisconsin, Madison, Democratic Party, Elections Research Locations: New York, Los Angeles, Israel, Gaza, America, spokespeople, New York City, November’s, AFP, The City College of New York, Columbia, Columbia's, Palestine, Providence , Rhode Island, Texas, Austin, Washington ,, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge, Vietnam, Biden’s, Pittsburgh, Milwaukee, Chicago
Sabrina Carpenter's style has evolved since she rose to fame as a Disney star. Carpenter perfected the sheer trend on and off the stage and is now synonymous with minidresses. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf anyone is in the running for the crown of pop music's princess, it's Sabrina Carpenter. From child star to pop princess, Carpenter has honed her style just as she has her career.
Persons: Sabrina Carpenter's, Carpenter, , it's Sabrina Carpenter, Taylor Swift, Barry Keoghan, She's Organizations: Disney, Service, Disney Channel Locations: Coachella
Disney's live-action "The Lion King" remake is getting a prequel in 2024 called "Mufasa: The Lion King." AdvertisementDisney's prequel to its "The Lion King" remake, "Mufasa: The Lion King," has finally gotten its first trailer — and as luck would have it, this film stars Beyoncé too. Here's everything we know about "Mufasa: The Lion King." Timon and Pumbaa are seen in 2019's "The Lion King." "Mufasa: The Lion King" serves as an origin story for Simba's father.
Persons: Disney's, King, Oscar, Barry Jenkins, Disney, Ivy, , Beyoncé, Jon Favreau's, Simba, Sean Bailey, Jenkins, Mufasa, Rafiki, hasn't, Scar, Mufasa's, Chiwetel Ejiofor, Aaron Pierre, James Earl Jones, Tiffany Boone, Kelvin Harrison Jr, Taka, Mads Mikkelsen, Kiros, Nala, Simba's, Blue Ivy, Pumbaa, Seth Rogen, Billy Eichner, Donald Glover, John Kani, he's, Walt, Timon Organizations: Service, Disney, Walt Disney Studios, Pride Rock Locations: Pride
Activist Commentary: Jana is a very experienced activist investor founded in 2001 by Barry Rosenstein. Wolfspeed is the world's leading producer of silicon carbide, or SiC, and a manufacturer of silicon carbide applications. Jana also recommends that the board commences a review of strategic alternatives, including a possible sale of the company. At Freshpet, Jana also made operational and capital allocation recommendations in addition to reviewing a sale of the company. Here, there has been no such mention of a "Jana Dream Team," but it is a little too early for that.
Persons: Jana, Barry Rosenstein, Rosenstein, John Palmour, Wolfspeed, Renesas, Ken Squire Organizations: John Palmour Manufacturing, Silicon Carbide, Mitsubishi Electric, 13D Locations: Siler City, N.C, Marcy, N.Y, North Carolina, Mohawk, New York, Germany, Freshpet
This story is available exclusively to Business Insider subscribers. AdvertisementA representative for Sternlicht told Business Insider the house was to be demolished but did not provide further comment. The tony island of Nantucket is a favorite among billionaires like former Google CEO Eric Schmidt and Blackstone leader Steve Schwarzman. "Erosion takes out houses, roads, infrastructure, sewer beds, even airport runways," he told Business Insider. Despite the island's propensity for natural destruction, the town has strict rules regarding what structures owners can take down.
Persons: Barry, Sternlicht, Forbes, Shelly Lockwood, tony, Eric Schmidt, Steve Schwarzman, James Pallota, Pallota, Lockwood, Brendan Maddigan, Steven Cohen, Cohen Organizations: Service, Billionaire, Business, Sternlicht, Nantucket Current, Blackstone, Celtics, Boston Globe Locations: Nantucket
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is recovering from a 'pseudo-recession', says Stifel's Barry BannisterBarry Bannister, Stifel chief equity strategist, joins 'Squawk Box' to discuss the latest market trends, why he's cautious on the market this year, the Fed's interest rate outlook, why he favors value over growth stocks, and more.
Persons: Stifel's Barry Bannister Barry Bannister
Activist investor Jana Partners disclosed in a letter Monday that it has built a "significant" position in semiconductor manufacturer Wolfspeed and urged the company to resolve what it called a "staggering erosion of shareholder value," up to and including a sale. In the letter to Wolfspeed's board, viewed by CNBC, Jana wrote that the semiconductor company's "differentiated manufacturing capabilities" and status as an "American supplier supporting the energy transition" gave it significant intrinsic value. Jana also wrote that management's missteps around capital allocation, execution and strategy had depressed the stock. Wolfspeed, formerly known as Cree, is a supplier of electronic components and semiconductors used to manage electricity, often in cars. Jana said Wolfspeed's board should "promptly" begin a comprehensive review of the business, up to and including a sale.
Persons: Scott Ostfeld, Jana Partners, Jana, Wolfspeed, Barry Rosenstein, Kif Leswing Organizations: JANA Partners, CNBC, Reuters, TSR, Qualcomm, Trimble Locations: New York City, U.S, Mohawk Valley, Siler City, Freshpet ,
Mikhail Markovskiy/ShutterstockCountry: Germany2023 Ranking: 7AdvertisementSkytrax Awards: Best Airport Staff in Europe, Best Airport in Central Europe, Best Airport Hotel in Europe (Hilton Munich Airport)7. Kazzure Gonzalez/Shutterstock.comCountry: JapanAdvertisement2023 Ranking: 9Skytrax Awards: World's Best Airport Staff, Best Airport Staff in Asia, Best Airport: 30-40 million passengers4. Sean Pavone / iStockCountry: Japan2023 Ranking: 3AdvertisementSkytrax Awards: World's Cleanest Airport, World's Best Domestic Airport, Best PRM and Accessible Facilities, Best Airport: 70+ million passengers, The Cleanest Airport in Asia3. Taylor Rains/Business InsiderCountry: Singapore2023 Ranking: 1Skytrax Awards: Best Airport in Asia, Best Airport Immigration Service, Best Airport: 50-60 million passengers, Best Airport Hotel in the World and Asia (Crowne Plaza Changi Airport)1. Thomas Pallini/Business InsiderCountry: QatarAdvertisement2023 Ranking: 2Skytrax Awards: World's Best Airport, Best Airport in the Middle East, World's Best Airport Shopping, Best Airport: 40-50 million passengers, The Cleanest Airport in the Middle East
Persons: Skytrax, , Stytrax, John F, Here's, Ozan Kose, Ko Aun Lee, Mikhail Markovskiy, Paul Souders, Paris Charles de Gaulle, Charles, Gaulle, Barry Winiker, Kazzure Gonzalez, Sean Pavone, Taylor Rains, Thomas Pallini Organizations: Doha Hamad International Airport, Newark Liberty International, Service, Singapore Changi Airport, Doha, Changi, Vancouver International Airport, Tacoma International, New, LaGuardia Airport, John, Kennedy International Airport, Istanbul Airport, Ozan, Getty Images, Best, Zurich, Airport, Best Airport Staff, Best Airport, Hilton, Dubai International Airport Dubai International Airport, Country, Tokyo, Narita, Seoul, Seoul Incheon International, International Airport, narvikk, Singapore, Best Airport Immigration Service, Asia, Crowne Plaza Changi, Doha Hamad International Airport Doha, Qatar's, Qatar's Hamad International Airport, World's Locations: Doha, Qatar, Canada, Seattle, New York City, New Jersey, Houston, Istanbul, AFP, Turkey, Southern Europe, Switzerland, Europe, Munich, Germany, Central Europe, UAE, France, Western Europe, Tokyo Narita, Japan, Asia, Tokyo, Seoul Incheon, South Korea, Singapore Changi, Singapore, Qatar's Hamad
By 2054, there will be an estimated 422,000 Americans age 100 and older — more than four times the 101,000 in 2024, according to a Pew Research Center analysis of U.S. Census Bureau data. What's more, the centenarian population has nearly tripled in the last three decades alone, according to Pew. Among the best ways to hedge against outliving one's savings is by working longer, according to retirement experts. That may be more necessary as employers have offloaded responsibility for retirement savings onto workers' shoulders, by shifting from pensions to 401(k)-type retirement plans. "People need to be prepared to work longer," he said.
Persons: Artur Debat, Pew . Irving Piken, Piken, Mark Rightmire, John Scott, Barry Glassman, Glassman, Pew's Scott, Scott Organizations: Pew Research, Census, Pew ., Woods Community, MediaNews, Orange, Getty, Finance, Wealth Services, Reference, Workers, Social Security, Security Locations: U.S, California
Retailers Get ‘Phygital’
  + stars: | 2024-04-19 | by ( ) www.nytimes.com   time to read: 1 min
Some experts say phygital (“physical” + “digital”) does a better job of describing how online and brick-and-mortar shops should work together to create a seamless customer experience. That became a necessity during the pandemic, when things like QR codes, digital payment options and contactless order pickups helped ease people’s fears about contracting the virus. Plus, some say phygital captures how retailers are incorporating augmented reality and A.I. Barry Collier, an entrepreneur who helped develop Neopets, a game with virtual pets, points to Ikea’s mobile app, which allows people to virtually sample couches and curtains in their own homes before making a purchase, as an example of phygital innovation. Sephora does a similar thing with makeup.
Persons: Barry Collier
CNN —Dubai International Airport, one of the world’s busiest aviation hubs, remained in disarray Thursday after unprecedented heavy rain led to airliners having to negotiate flooded runways. Delays and cancelations caused by the flooding have led to ongoing congestion at Dubai International Airport. The tarmac of Dubai International Airport was left submerged. Some residents were seen rowing canoes outside their homes, and one viral video on social media showed residents wake boarding on a flooded street in a residential area. Amr Alfiky/ReutersOther videos from social media showed water rushing through a major shopping mall and inundating the ground floor of homes.
Persons: Rula Rouhana, Mohit Mehta, , , ” Mehta, Amr Alfiky, Mister Funk, Christopher Pike, Madiha Khawaja, Khawaja, Sheikh Zayed, cleanups, Sheikh Mohamed bin Zayed Al, Nahyan Organizations: CNN — Dubai International Airport, Emirates, Flydubai, , , Dubai International Airport, Rula, Reuters, United Arab, Dubai International, CNN, UAE, “ Emirates, Bloomberg, Getty Images Municipal, Abu Dhabi . Schools Locations: United Arab Emirates, Dubai, Gurgaon, India, Amsterdam, UAE, Gulf of Oman, Oman, Iran, London, Sheikh, Sharjah, Abu Dhabi
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed 'is in no position to disinvert the curve', says Ironsides Macroeconomics’ Barry KnappBarry Knapp, Ironsides Macroeconomics managing partner and director of research, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, interest rate outlook, the Treasury market, and more.
Persons: ’ Barry Knapp Barry Knapp Organizations: Ironsides, Treasury
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael must maintain deterrence in conflict with Iran, says retired U.S. Army GeneralGen. Barry McCaffrey, retired four star U.S. Army general and MSNBC analyst, joins 'Power Lunch' to discuss the recent escalation of violence between Iran and Israel, the defensive capabilities of Israel, and how the war in Gaza plays out.
Persons: Gen, Barry McCaffrey Organizations: Israel, U.S . Army, U.S, Army, MSNBC Locations: Iran, Israel, Gaza
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